UWM Holdings Co. Declares Quarterly Dividend of $0.10 (NYSE:UWMC)

UWM Holdings Co. (NYSE:UWMC) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Shareholders of record on Thursday, March 20th will be given a dividend of 0.10 per share on Thursday, April 10th. This represents a $0.40 annualized dividend and a yield of 6.58%. The ex-dividend date of this dividend is Thursday, March 20th.

UWM has a dividend payout ratio of 70.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect UWM to earn $0.46 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 87.0%.

UWM Trading Down 2.0 %

Shares of UWMC traded down $0.13 during trading hours on Thursday, reaching $6.08. The stock had a trading volume of 4,523,051 shares, compared to its average volume of 3,405,743. The company has a market cap of $9.71 billion, a P/E ratio of -26.41 and a beta of 1.66. UWM has a 52 week low of $5.31 and a 52 week high of $9.74. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The firm has a 50-day moving average of $6.06 and a 200 day moving average of $7.01.

UWM (NYSE:UWMC) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $560.21 million during the quarter, compared to the consensus estimate of $645.75 million. On average, sell-side analysts expect that UWM will post 0.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

UWMC has been the topic of several research analyst reports. The Goldman Sachs Group dropped their target price on shares of UWM from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Keefe, Bruyette & Woods dropped their price objective on shares of UWM from $7.00 to $6.50 and set a “market perform” rating on the stock in a report on Friday, January 3rd. Finally, Morgan Stanley cut their price objective on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $7.39.

About UWM

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company offers mortgage loans through wholesale channel. It originates primarily conforming and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.